Western Wealth Management LLC Has $11.72 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Western Wealth Management LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,500 shares of the semiconductor manufacturer’s stock after purchasing an additional 207 shares during the quarter. Broadcom accounts for about 0.8% of Western Wealth Management LLC’s portfolio, making the stock its 20th biggest position. Western Wealth Management LLC’s holdings in Broadcom were worth $11,721,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Macroview Investment Management LLC purchased a new stake in shares of Broadcom during the third quarter valued at approximately $29,000. BKM Wealth Management LLC bought a new position in Broadcom during the fourth quarter valued at $29,000. CKW Financial Group bought a new position in shares of Broadcom in the fourth quarter worth $30,000. VitalStone Financial LLC boosted its holdings in shares of Broadcom by 71.4% in the first quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock worth $40,000 after acquiring an additional 25 shares during the period. Finally, Rise Advisors LLC boosted its holdings in shares of Broadcom by 33.3% in the fourth quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after acquiring an additional 10 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Trading Down 1.8 %

Shares of AVGO traded down $23.64 during trading hours on Thursday, hitting $1,258.99. The company had a trading volume of 2,486,763 shares, compared to its average volume of 2,947,770. The firm has a market cap of $583.44 billion, a P/E ratio of 46.86, a P/E/G ratio of 2.71 and a beta of 1.25. The stock’s 50 day moving average price is $1,307.00 and its 200 day moving average price is $1,115.19. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter in the previous year, the business earned $9.83 EPS. Broadcom’s revenue was up 34.2% compared to the same quarter last year. On average, research analysts predict that Broadcom Inc. will post 35.88 EPS for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.67%. Broadcom’s dividend payout ratio is presently 77.84%.

Analyst Ratings Changes

A number of equities analysts have recently commented on AVGO shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a report on Thursday, March 21st. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. The Goldman Sachs Group reissued a “buy” rating and set a $1,325.00 price objective on shares of Broadcom in a research note on Friday, January 19th. Benchmark reissued a “buy” rating and set a $1,720.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Finally, UBS Group lifted their price objective on Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

Insider Activity at Broadcom

In related news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the transaction, the director now owns 4,643 shares in the company, valued at approximately $5,991,048.62. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the transaction, the director now owns 4,643 shares in the company, valued at approximately $5,991,048.62. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Justine Page sold 110 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the transaction, the director now owns 3,125 shares in the company, valued at approximately $4,134,375. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock worth $40,306,667 in the last 90 days. Company insiders own 2.00% of the company’s stock.

Broadcom Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.